Substantial Interest

British Land Co PLC
3 October 2000

The British Land Company PLC announces that it received notification today,
pursuant to sections 198-202 of the Companies Act 1985, that CGNU plc has the
following notifiable interest in the Company's ordinary 25p shares:

Registered Holders                    Number of Shares held

BNY (Nominees) Limited                          29,888

BNY Norwich Union Nominees Limited          11,630,811

BT Globenet Nominees Limited                    12,210

Chase GA Group Nominees Limited              4,188,391

Chase GA Pension Nominees Limited              250,000

CUIM Nominee Limited                         4,317,196

Hiberian Investment Managers Limited            50,000

Norwich Union Life Insurance Ireland Ltd         5,000

Total CGNU plc holding                      20,483,496 shares

This represents 3.95% of the total issued ordinary share capital.